Outlook on October 22:
Analytical overview of major pairs on the H1 TF:
The key levels for the euro/dollar pair are 1.1952, 1.1929, 1.1894, 1.1867, 1.1829, 1.1812 and 1.1788. The development of the upward cycle from October 15 is still being monitored here. Now, a short-term growth is expected in the range of 1.1867 - 1.1894. If the last value breaks down, it will lead to a strong increase, which will lead us to the target of 1.1929. For the potential value for the top, we consider the level of 1.1952. Upon reaching which, price consolidation and downward pullback are expected.
A short-term decline is possible in the range of 1.1829 - 1.1812, breaking through the value will lead to a deep correction. Here, the target is 1.1788.
The main trend is the upward cycle from October 15
Trading recommendations:
Buy: 1.1868 Take profit: 1.1892
Buy: 1.1896 Take profit: 1.1929
Sell: 1.1829 Take profit: 1.1812
Sell: 1.1810 Take profit: 1.1790
The key levels for the pound/dollar pair are 1.3282, 1.3247, 1.3186, 1.3115, 1.3082 and 1.3021. We are following the development of the upward cycle from October 16. Here, the growth of the pair is expected after breaking through the level of 1.3186. In this case, the target is 1.3247. In the meantime, we consider the level 1.3282 as a potential value for the upward movement. We expect consolidation near this level.
A short-term decline is possible in the range of 1.3115 - 1.3082. If the last value will break down, it will lead to a deep correction. Here, the target is 1.3021, which is the key support for the top.
The main trend is the upward cycle of October 16
Trading recommendations:
Buy: 1.3186 Take profit: 1.3245
Buy: 1.3247 Take profit: 1.3280
Sell: 1.3115 Take profit: 1.3083
Sell: 1.3080 Take profit: 1.3024
The key levels for the dollar/franc pair are 0.9098, 0.9075, 0.9062, 0.9033, 0.9013, 0.8982 and 0.8966. The development of the downward trend cycle from October 19 is followed here. Now, a short-term decline is expected in the range of 0.9033 - 0.9013. In case of breakdown of the last value, it will lead to a strong decline. Here, the target is 0.8982. For the potential value for the bottom, we consider the level of 0.8966. Upon reaching which, we expect an upward pullback.
A short-term growth is possible in the range of 0.9062 - 0.9075. If the last value breaks down, it will lead to a deep correction. Here, the target is 0.9098, which is the key support for the downward structure from October 19.
The main trend is the downward cycle of October 19
Trading recommendations:
Buy : 0.9062 Take profit: 0.9075
Buy : 0.9077 Take profit: 0.9098
Sell: 0.9033 Take profit: 0.9014
Sell: 0.9012 Take profit: 0.8984
The key levels for the dollar/yen are 105.24, 104.97, 104.81, 104.36, 104.04 and 103.84. Here, we consider the downward trend structure from October 20 as the local initial conditions for the downward trend. The downward movement is expected to continue after breaking through the level of 104.36. In this case, the target is 104.04. For the potential value for the bottom, we consider the level of 103.84. Upon reaching which, we expect consolidation and upward pullback.
A short-term growth is expected in the range of 104.81 - 104.97. If the last value breaks down, it will lead to a deep correction. Here, the target is 105.24, which is the key support for the downward structure.
The main trend is the local descending structure from October 20
Trading recommendations:
Buy: 104.81 Take profit: 104.96
Buy : 104.98 Take profit: 105.24
Sell: 104.36 Take profit: 104.05
Sell: 104.03 Take profit: 103.86
The key levels for the USD/CAD pair are 1.3259, 1.3206, 1.3176, 1.3114, 1.3076, 1.3044, 1.3023 and 1.2983. The development of the downward trend on October 15 is being followed. At the moment, the price is in a correction. The decline of the pair is expected to continue after the level of 1.3114 breaks down. In this case, the first target is 1.3076. If this target breaks down, we can continue to the level of 1.3044. On the other hand, price consolidation is in the range of 1.3044 - 1.3023. For the potential value for the bottom, we consider the level of 1.2983. Upon reaching which, an upward pullback can be expected.
A short-term growth is expected in the range of 1.3176 - 1.3206. If the last value breaks down, it will lead to the development of an upward trend. In this case, the potential target is 1.3259.
The main trend is the downward cycle from October 15, the correction
Trading recommendations:
Buy: 1.3176 Take profit: 1.3204
Buy : 1.3208 Take profit: 1.3259
Sell: 1.3114 Take profit: 1.3076
Sell: 1.3074 Take profit: 1.3045
The key levels for the AUD/USD pair are 0.7259, 0.7228, 0.7183, 0.7147, 0.7083, 0.7066, 0.7045 and 0.7022. Here, the price forms the strong initial conditions for the upward cycle of October 20. The growth is expected to continue after breaking through the level of 0.7147. In this case, the target is 0.7183. There is consolidation near this level. If this target breaks down, it should be accompanied by a strong growth. Here, the target is 0.7228. We consider the level 0.7259 as a potential value for the top. Upon reaching which, a downward pullback can be expected.
A short-term decline is expected in the range of 0.7083 - 0.7066. If the last value breaks down, it will lead to a deep correction. Here, the target is 0.7045, which is the key support for the top. Now, the price pasing this level will lead to the development of a downward trend. In this case, the first potential target is 0.7022.
The main trend is the formation of initial conditions for the upward cycle of October 20
Trading recommendations:
Buy: 0.7147 Take profit: 0.7180
Buy: 0.7184 Take profit: 0.7228
Sell : 0.7083 Take profit : 0.7067
Sell: 0.7065 Take profit: 0.7047
The key levels for the euro/yen pair are 126.19, 125.69, 125.34, 124.87, 124.37, 123.66, 123.31 and 122.97. Here, we are following the development of the upward structure of October 15. Now, the growth of the pair is expected to continue after breaking through the level of 124.87. In this case, the target is 125.34. On the other hand, there is a short-term growth as well as consolidation in the range of 125.34 - 125.69. We consider the level of 126.19 as a potential value for the top. Upon reaching which, we expect a downward pullback.
A short-term decline is expected in the range of 123.66 - 123.31. If the last value breaks down, it will lead to the cancellation of the upward structure. In this case, the first target is 122.97.
The main trend is the upward cycle from October 15, the correction stage
Trading recommendations:
Buy: 124.38 Take profit: 124.85
Buy: 124.95 Take profit: 125.34
Sell: 123.66 Take profit: 123.35
Sell: 123.30 Take profit: 122.98
The key levels for the pound/yen pair are 139.70, 139.04, 138.58, 137.88, 137.05, 136.72 and 136.32. The development of the upward cycle from October 16 is being followed here. Now, the growth of the pair is expected to continue after breaking through the level of 137.88. In this case, the target is 138.58. On the other hand, there is a short-term upward movement, as well as consolidation in the range of 138.58 - 139.04. We consider the level of 139.70 as a potential value for the top. Upon reaching which, we expect a downward pullback.
A short-term decline, in turn, is expected in the range of 137.05 - 136.72. In case of breakdown of the last value, it will lead to a deep correction. Here, the target is 136.32, which is the key support level for the top.
The main trend is the upward cycle of October 16
Trading recommendations:
Buy: 137.90 Take profit: 138.58
Buy: 138.60 Take profit: 139.00
Sell: 137.05 Take profit: 136.72
Sell: 136.70 Take profit: 136.32
